DBS Digital Exchange (DDEx), one of the first bank-backed digital exchanges in Asia, reported an 80% year-over-year increase in Bitcoin traded in fiscal 2022, while the number of Bitcoins held by the bank has doubled compared to 2021.
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Fast facts
- The volume of Ethereum held in the bank’s digital custody also increased by 60%, while the number of Ether traded on the exchange was nearly 65% higher, he said in a statement. statement Wednesday.
- DDEx is the bank’s members-only exchange, providing accredited investors, financial institutions and family offices that do business with DBS, access to cryptocurrency and digital payment tokens.
- The exchange’s customer base doubled in 2022 with around 1,200 registered participants as of December 31, and saw a net long position for its customers throughout the second half of last year.
- “In 2022, we saw growing interest from our enterprise customers and were actively working to convert a number of requests into STOs. [security token offerings]said Lionel Lim, CEO of DBS Digital Exchange. “However, these have been put on hold due to market volatility as well as macroeconomic uncertainty. We will continue to work with these potential issuers and explore origination opportunities for high quality STO listings in 2023. »
- In September, DBS Bank, Southeast Asia’s largest lender, introduced a self-managed cryptocurrency trading service for accredited clients. Currently, more than 90% of the bank’s wealthy client transactions are executed digitally, according to the statement.
- DBS Group reported net profit growth of 20% in 2022 to S$8.19 billion (US$6.14 billion), while total income increased by 16% to exceed S$16 billion (US$11 billion). Americans) for the first time.
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